Fidelity Charitable - "Administrative Adjustment"

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Stinky
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Fidelity Charitable - "Administrative Adjustment"

Post by Stinky »

This morning, I got an email from Fidelity Charitable saying that there was an "administrative adjustment" applied to our account. When I click through, I find that they added (I think) $1.41 to our account yesterday. They say that I can call Fidelity Charitable if I have questions.

Here's a paragraph from the confirmation letter:
"Note: Administrative Adjustments are allocated to eligible Giving Accounts at the end of each quarter and are net of any fees previously waived or reimbursed to any pool(s). See the Program Circular for details."

We've had our Fidelity Charitable account for about 7 years, and have never had anything like this before. Did anyone else get an email like this? If so, did you call Fidelity Charitable to see what's going on?
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
HomeStretch
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Re: Fidelity Charitable - "Administrative Adjustment"

Post by HomeStretch »

I have a Fidelity DAF. As a data point - I did not receive a similar email. I just logged in and do not see a similar adjustment.

ETA - my DAF was recently credited for an uncashed donation check but since the amount you are questioning is < Fidelity’s $50 check minimum, I assume your mystery credit is not for an uncashed donation check.
Last edited by HomeStretch on Wed Jul 28, 2021 11:54 am, edited 1 time in total.
Silk McCue
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Re: Fidelity Charitable - "Administrative Adjustment"

Post by Silk McCue »

HomeStretch wrote: Wed Jul 28, 2021 9:33 am I have a Fidelity DAF. As a data point - I did not receive a similar email. I just logged in and do not see a similar adjustment.
Same here.

Had I received such an email I wouldn’t bother calling to find out exactly why a minor “Administrative Adjustment” occurred.

Cheers
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Stinky
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Re: Fidelity Charitable - "Administrative Adjustment"

Post by Stinky »

Silk McCue wrote: Wed Jul 28, 2021 10:06 am
HomeStretch wrote: Wed Jul 28, 2021 9:33 am I have a Fidelity DAF. As a data point - I did not receive a similar email. I just logged in and do not see a similar adjustment.
Same here.

Had I received such an email I wouldn’t bother calling to find out exactly why a minor “Administrative Adjustment” occurred.

Cheers
I agree. I haven’t called FC, and don’t plan to call them, about my $1.41.

I was just checking to see if any of my friends in Boglehead Nation had the same “good fortune” as me.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
Silk McCue
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Re: Fidelity Charitable - "Administrative Adjustment"

Post by Silk McCue »

Stinky wrote: Wed Jul 28, 2021 10:59 am I agree. I haven’t called FC, and don’t plan to call them, about my $1.41.

I was just checking to see if any of my friends in Boglehead Nation had the same “good fortune” as me.
We are sorely jealous of your “good fortune” and wish never to speak of it again. ;)

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HueyLD
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Re: Fidelity Charitable - "Administrative Adjustment"

Post by HueyLD »

“ Why were there adjustments made on my account?

The recent adjustments made to your Giving Account could be due to a variety of reasons such as:

One of your grant checks to a charity was returned to Fidelity

A grant check was not deposited by the charity in a timely manner

An administrative fee has been assessed

We are experiencing increased instances of returned or delayed processing of checks due to the COVID-19 pandemic. For additional details, log in to your account or select History or Statements and confirmations from the top navigation menu.”

https://www.fidelitycharitable.org/faqs ... ments.html

It could be a debit (as in fees).
retiringwhen
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Re: Fidelity Charitable - "Administrative Adjustment"

Post by retiringwhen »

On 7/27/20 our Fidelity Charitable account was debited an Administrative Adjustment that had a memo of "Annual Minimum Account Fee". This is the amount needed to get the minimum fees to $100 annually. This is calculated from July-to June 12 month periods using some sort of average balance calculation. I assume I will see one today or tomorrow for 2021 as we keep our balance relatively low.
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